The Olympics Takes Our Gold

Gleckman asks, “Why is the U.S. Olympic Committee a tax exempt organization?”:

USOC isn’t the only sports behemoth to enjoy tax-exempt status. The National Football League, the National Hockey League, the Professional  Golfers Association, and other big-bucks professional sports leagues are also tax-exempt–though under a different code subsection than USOC.  Last year, Sen. Tom Coburn (R-OK) introduced a bill to take away the tax-exemption for the pro outfits. It has gone nowhere.

USOC is somehow different, perhaps because it so successfully clings to the myth of the amateur athlete who competes for the love of sport, and not the big bucks.